Ngl Energy Partners LP Down 4.36% To $1.65 After Earnings

Ngl Energy Partners LP (NGL) said after close Tuesday that it lost $0.04 per share in quarter one 2023.

On the revenue line, the company reported $2.5 billion, beating estimates by $637 million.

In the same quarter a year ago, the company lost $1.23 per share on revenue of $1.5 billion.

The stock is down 4.36% to $1.65 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 46. Meanwhile, the average Wall Street analyst rated the stock a Hold.

NGL Energy Partners LP is a US-based firm that owns and operates a vertically integrated energy business. The company's operating segments include Crude Oil Logistics, Water Solutions, and Liquids Logistics. It operates crude oil storage terminals, and owns pipeline injection stations and offers services for the treatment and disposal of wastewater generated from crude oil and natural gas production, and for the disposal of solids, such as tank bottoms and drilling fluids. The firm also supplies natural gas liquids to retailers, wholesalers, refiners and petrochemical plants and sells propane and distillates.